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CNBC
Dec 9, 2012 7:30pm EST
making news. some surprisingly good news about america's economy. the labor department says 146,000 new jobs were created in the month of november. much better than economist's expectations. the unemployment rate dropped two tenth of a% at 7.7%. the labor department also says superstorm sandy had little effect on those numbers. >>> the markets continued their familiar pattern of following the latest word or words or hopes on fiscal cliff. no major moves during the week but several times the market ran out of steam to the end of the trading session. the house of representatives left for a long weekend on wednesday. so while there may be behind the scenes action in terms of talks, no one from the house is home. big moves by citigroup's new chairman and ceo. he announced 11,000 layoffs this week. citi will take a pre-tax charge of more than a billion dollars. the markets liked the move. the stock rallied about 7% on the expense cuts. >>> a big deal for netflix and dismy, they announced a licensing agreement to show disney movies shortly after they leave the theaters. the fiscal cliff a
CNBC
Dec 2, 2012 7:30pm EST
america's economy at stake. president obama's initial offer on the fiscal cliff was resoundingly rejected by republicans. it included a $1.6 trillion tax increase, double what he campaigned on. also included $400 billion in entitlement cuts eliminating the need for congressional approval to a raise the debt ceiling. the markets rebounded later in the week following the latest hopes on a fiscal cliff agreement. america's economy grew at a faster pace than initially expected in the third quarter of the year. the second reading of the gross domestic product showed it at rate of 2.7% spurred by stronger inventories and exports. the securities and exchange commission is looking for a new chairman. mary shapirp schapiro announcin she will step down after nearly four years on the job. the obama administration says it will announce a replacement in the near future. >>> starbucks has a new way to spend a lot of money. it is introducing the most expensive blend made from a rare costa rican variety named geisha. it is $7 a cup and only available in 48 stores. if you order one, drink it slow
CNBC
Dec 6, 2012 1:00pm EST
exclusively with nbc news' brian williams. strength in america? maybe manufacturing here. apple tv living in the legacy of steve jobs. we're going to take a very close look on what is next for america's favorite gadgetmaker. >>> speaking of gadgets, rivalry research in motion, offering training programs and promotions for its upcoming blackberry 10. it's targeted corporations. bold move or maybe a desperate one? >>> any move might be welcome down here. democrats want tax hikes on the rich. republicans want entitlement cuts. we've heard this before, haven't we? what do average americans want to see in a fiscal cliff solution. we've got the exclusive results of our exclusive cnbc all-america economic survey. >>> now to everybody's all-american, sue herera standing by at the nyse. >> you're sweet, ty. thanks. >>> we're a little bit on the downside. we really kind of retraced a little bit on the dow jones industrial average. previous to this we were solidly in the green in all three of the major market indices. the dow now down 14 1/2 points. nasdaq up eight. the s&p is down just a fra
CNBC
Dec 7, 2012 1:00pm EST
america confronts the fiscal cliff. house speaker boehner coming out earlier today and saying no progress has been made in the negotiations. our chief washington correspondent john harwood is here with the latest. >> reporter: we ended the week with a fairly perfect, simple, clear, elegant expression of the partisan differences in this fight. speaker boehner came out and gave a press conference where he essentially said president obama has done nothing to compromise with republicans. here's the speaker. >> four days ago we offered a serious proposal based on testimony of president clinton's former chief of staff. since then there's been no counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow-walk our economy right to the edge of the fiscal cliff. >> reporter: not surprisingly, democratic house leader nancy pelosi had precisely the opposite explanation for what is behind this stalemate. she says republicans simply echoing the white house are going to have to buckle on the issue of the top rates. >> the only obsta
CNBC
Dec 18, 2012 3:00pm EST
know what your kids are wearing. let's think about this, america. >> my outrage of the day. on that note, thank you so much for watching "street signs." >> that is a thing that makes you go hmm, and we'll see you tomorrow. "closing bell" is next right here on cnbc which is the worldwide leader in business news. >> hi, everybody. we're into the final stretch. welcome to the "closing bell." i'm maria bartiromo with the new york stock exchange. the more wall street washington is rising above, the higher the market goes. >> rejection of how john boehner's plan "b" thatty had came out with today. the major averages are all trading around two-month highs today because it seems like progress is still being made on some kind of a deal. here's where we stand right now. the dow up 98 points, was up 125 at the high, and then the white house rejected and some comments by senate majority leader harry reid on that so-called plan "b" proposal from john boehner, sort of took some of the wind out of the sails. nasdaq still up 1.25%, a 3348 and the s&p 500 index is up 12-plus points right now at 1443
CNBC
Dec 4, 2012 6:00am EST
squawk, bank of america ceo brian moynihan in his own words, we caught up with him yesterday to talk about business, the economy and the looming figure. as we head into a break, bank of america, best performing dow component of the year. up about 77%. ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. nespresso. where i never have to compromise on anything. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is only made with fresh milk. and where the staff is exceptionally friendly. ♪ nespresso. what else? indicated up 14 points. unable to hold on to the gains we saw yesterday. you can sort of
CNBC
Dec 30, 2012 7:30pm EST
journal report" begins right now. >> this is america's number one financial news program, "the wall street journal report." now, maria bartiromo. >> all that ahead, but first, here's phil griffith with the look at the stories making headlines this week. >> thanks, maria. here's what's making news as we are heading into a new week and new year on wall street. congress is working the weekend, attempting to avert some part of that $6 billion in automatic tax increases and the spending cuts that are set to kick in on january 1st. that fiscal cliff and its potential impact on our economy brought lawmakers from both houses to washington for last-minute negotiations. concerns about the cliff spooked investors, the holiday shortened trading week was lighter in volume but higher in volatility. the worst decline of the month on thursday after a disappointing read on consumer confidence and some statements by congressional leaders. and yet, with one final trading day to go, all the major averages were still showing positive performance for the year of 2012. meantime, the u.s. is set to reach t
CNBC
Dec 21, 2012 11:00pm EST
, jim, we failed to execute in north america in our core business. it was entirely our fault. no excuses. we have made a leadership change and that takes effect starting now. but there were parts of our business that were very strong. visual analytics were up. there's no question there is strong demand for our products. we failed to execute in certain areas. >> okay. there was one -- i know everyone knows the federal government is having a tough time. they seem to have spent less with you than they did previously. the federal government stiff you? what happened? >> it was bad execution. i can't blame anybody but myself. we had a greater than 90% drop in that business and that's just bad execution. but on the other side we were up 50% in the west. we were you were 50%, 60% in the south and in the northeast. so we had great strength in many areas but areas like the government, the center region, canada, latin america, we had poor execution. >> now, you do some work -- this is the first time i asked you about this. for the oil and gas industry. what do you guys do for oil and gas? w
CNBC
Dec 4, 2012 7:00pm EST
, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >> whow does taxing the rich hep the poor rise above poverty and get a job? let's talk to larry elder. he is the author of the great book, "dear father dear son". welcome back. how does taxing successful wealthy people help the poor get out of poverty. well for people who think like i think it doesn't make any sense. but understand something, that is not what this is all about. this is about squeezing the gap between the rich and the poor. if growth suffers, so be it. i mentioned this guy before. one of the biggest unions larry. he said in western europe, they may have higher unemployment but they have less inequality. this is what the agenda is all about. in a practical way, suppose you have a successful person. he or she want to build a house. to do that you might hire 15, 20, 25 people. you got a whole army of people
CNBC
Dec 17, 2012 4:00pm EST
will be catalysts. she's upgrading citi, bank of america, and discover. those stocks did well today. she upgraded the group today and says the banks right now are more than capitalized. the catalysts for the stocks will be march in 2013 when the fed will release the latest results which will -- she expects, approve the bank's plans to return more capital to shareholders and dividend hikes. after which she's expecting bank of america could quadruple its dividend. and will allow some banks to be more execution dependent than market dependent. a bias we always prefer. so she's upgrading these stocks. she's looking for huge returns in some of these. citi and bank of america and discover are the three names she's upgrading today. also taking a positive stance overall on the financial services sector. meredith whitney will be my guest tomorrow. talking about this call where she upgraded the banks today. she is telling clients this right now. my next guest is one of the most well known analysts due to his early warnings on the 2008 financial crisis. you know he is leaving rochdale securiti
CNBC
Dec 10, 2012 6:00pm EST
because of the warm weather in america, but on calvin klein, that's the one i think you ought to look at. got to come in, warm weather is going to cause everybody to have jitters. i wish we could forget about politics. until we get a deal, it's bad news for themarket. even for cheap stock like apple. "mad money" will be right back. >>> tonight, two companies with break through products that are leading the charge. cramer is talking to the ceos of immunojet and seattle genetics, just ahead. and later, reenergized in pipelines, they're america's energy toll road and they can provide investors with a secure source of dividends, but his investment in north dakota's oil rich back and shale continues, cramer's looking for companies that are looking to expand. all coming up on "mad money." well, if it isn't mr. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a
CNBC
Dec 6, 2012 2:00pm EST
some manufacturing jobs back to america. we've got your good news insourcing story ahead. >>> plus, a five-star fund manager unveils what he thinks could be the next apple, of sorts. >>> and the gold man himself, todd hoffman of "gold rush" is here. he will tell you why the fiscal cliff has him digging harder than ever. >>> welcome to "street signs," everybody. mandy will be back tomorrow and hopefully stock buyers will be, too. i mean we're up but up hardly any. basically stuck in neutral. you got intel, cisco, mcdonald's, some of the better performers today. b of a, cat and boeing among the worst on the dow. but even on days without big moves there is still big news. let us get some with bob pisani. bob, let's step away from our markets for just a second. okay? what is this we hear about the possibility that the italian government could go away? >> it was a problem this morning. mario monty's government has survived the no confidence vote. looks like the italian government is going to survive. you see italian stocks were down throughout the day. the problem about this, the struct
CNBC
Dec 17, 2012 5:00pm EST
the fed will likely allow some of the big banks to deploy that capital. she expects bank of america could kdruple its dividend. that certainly is going to be attractive to some investors. back to you. >> bertha, thank you. that will do it for us. thank you for being with me. follow me on twitter and google plus. have a great night. but wait. here's "fast money." >>> with every meeting between the president and boehner -- >> meeting lasted 45 minutes between the speaker and the president. progress in these negotiations is a very moving target right now. >> byers start coming back into the market. >> it looks like, at this point, the senate is going to have to come back on december 26th, the day after christmas, to take up among other pieces of legislation, the fiscal cliff solution. >> and if a deal is hatched, it could be the best santa claus rally ever. >> listen, at 12 times next year, with these interest rate us, with this fed, yeah, of course it's cheap. >> "fast money" on the cliff that saved christmas, right now. live from the nasdaq market site in new york city's times square
CNBC
Dec 11, 2012 5:00pm EST
stocks that could help you play it. >>> still to come, america's role in the global emergency market could soon be in for a drastic change. we'll tell you why and what's at stake. stay tuned. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. oi [ male announcer ] when it comes to the financial obstacles mimilies face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we're ready to help. ♪
CNBC
Dec 3, 2012 2:00pm EST
why fast food workers are working to unionize and maybe even strike across america. >>> and the scary story about the surge in spooks. how spies apparently are everywhere now, mandy. >> and you wouldn't even know. >>> let's load you up on some vital stats. firstly, december is historically the best performing month of the year but today the dow and s&p are down for the first time in four days. dow was up 61 points before the disappointing ism data at 10:00 a.m. this morning. it has never recovered. s&p is flirting with a three-week high even though it is slightly lower. nasdaq touched a one-month high earlier on. >>> never doubt the power of of the american consumer is what we always say here on "street signs." holiday shopping season is in full swing and that, my good people, has propelled the s&p retail next to a record high early again today, though as we speak it is slightly lower. let's get out to bob pisani. so much for december being a good month for stocks. >> well, we're just starting out but the big story i think is that no progress on the fiscal cliff. it is not bothering s
CNBC
Dec 18, 2012 9:00am EST
those hopes. >> whitney boosts her recommendations on citi, bank of america and discover financial. is that move by one of the more famous financial bears, a sign of a new era for banks? >> walmart is once again the target of a "new york times" investigation. but does the paper add anything new and can the stock outperform just as it did last time. >> private equity firm server said it will sell the firearms conglomerate. is private equity talking about guns in the country. >> futures moving higher on optimism. the white house republicans rising above partisanship, getting closer to striking a deal on the fiscal cliff. we have the latest on not just the breakdown of this offer, but by the response of some key senators this morning. good morning. >> yeah, that's right, carl. we saw the offer come in late last night and now we're seeing reaction early this morning. let me walk you through first of all of what the president laid down on the table yesterday, starting with taxes. the president is proposing now $1.2 trillion in new revenue increases, tax increases on individual income. t
CNBC
Dec 14, 2012 7:00pm EST
parent in america who doesn't feel the same overwhelming grief that i do. the majority of those who died today were children, beautiful little kids between the ages of 5 and 10 years old. >> reporter: in washington, d.c., flags are flying at half staff as the country mourns with this small connecticut town that has lost so much. of course, thoughts and prayers of this entire community tonight are with those 26 victims that died here at the school. 20 young children under the age of 10 and also six adults. meanwhile, the investigation here continues. that's the story live in newtown, connecticut. chris pollone, nbc news, back to you. >> many thanks to chris. now to try to talk something sensible about this, we welcome blake zeft to the show, a former obama presidential campaign aide. we welcome back nan hayworth and mark simone. nan, let me begin with you, please. you're a doctor. >> yes. >> i know you're not a mental health doctor. but it has been alleged that he has asperger's syndrome, personality disorders -- nobody knows. does mental health play a huge role in this, from what yo
CNBC
Dec 10, 2012 11:00pm EST
weather in america, but after they bought calvin klein, that's the one i think you ought to look at. let it come in, warm weather is going to cause everybody to have jitters. i wish we could forget about politics. i'd love to discuss decker's or coach. until we get a deal, it's bad news for the market. even for cheap stock like apple. "mad money" will be right back. >>> high on biotech. medical innovations continue to help us. tonight, two companies with breakthrough products that are leading the charge. cramer is talking to the ceos of immunogen and seattle genetics, just ahead. and later, reenergized. pipelines, they're america's energy toll road and can provide investors with a secure source of dividends, but his investment in north dakota's oil rich bakken shale continues, cramer's looking for companies that are ready to expand. don't miss the ceo of enbridge energy. all coming up on "mad money." >>> moments like this when everybody is terrified that our economy could slide back into a government induced recession next year, i got to start looking at high quality companies that
CNBC
Dec 3, 2012 3:00pm EST
, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though all energy development comes with some risk, we're committed to safely and responsibly producing natural gas. it's not a dream. america's natural gas... putting us in control of our energy future, now. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> an improving economy and superstorm sandy turn out to be a boone for the automakers. >> one automaker did not beat expectations in terms of november auto sales. the automaker who fell short of estimates was general matter, an increase of 3.4%. 2% below what the street was expecting. some important stories that came out today from the auto industry. let's start with ford. 6.5% increase. the company today raising its production in north america for the first quarter by 11% up to 750,000. the most they have produced in the first quarter since 2006. general mot
CNBC
Dec 11, 2012 12:00pm EST
dow has been higher. we haven't had a stretch like that since march. >> scott, bank of america merrill lynch is out with a report today. they look at fund flows. what they've seen is something remarkable. individuals have been selling. but institutions and he think funds have been net buyers for the last four week institutions have bought an average of $300 million in net worth of stock. what that's telling you is that they're way more concerned with getting in position for next year and whatever the fed's going to do. tomorrow it's widely expected bernanke's going to announce some kind of a transaction in which he buys basically $650 billion worth of mds. another $500 billion in treasuries. throw that on the pile. it's very tough to be overly focused on fiscal cliff stuff when you have the central bank doing what it's been doing all year in the background. that is what the market is watching. much more so than anything boehner has to say. >> joe, has santa claus -- is he coming early because of what the fed may do over the next couple of days? what the negotiations may turn ou
CNBC
Dec 31, 2012 1:00pm EST
order of the day on this new year. happy new year, america. i'm sue herrera. we will start with john har wood at the white house in a few minutes. but amman starts us out. >> it seems they are really hashing out details of what to do about the sequester, those are the massive spending cuts. how long you delay those down and otherwise pay for them seems to be the crux of the negotiation going on behind closed doors right now but it is very difficult to find out exactly where these negotiations stand because all sides are being very, very mum. we can tell you that democrats appear to be getting a little bit concerned about where this is headed. take a listen to senator tom harkin who took to the senate floor earlier today. >> the deal must be one that really does favor the middle class, the real middle class, those making 30, 50, 60, $70,000 a year. that's the real middle class in america. and as i see this thing developing, quite frankly, as i've said before, no deal is better than a bad deal and this looks like a very bad deal the way this is shaping up. >> 10 he knows more about the
CNBC
Dec 6, 2012 4:00pm EST
we're really going to go over it and change the tax basis, the treasury has to call on corporate america to change the withholding tables. all of us get taxes withheld. if they're going to change what rate i'm going to be taxed at, they're going to have to change that table. that's not an overnight process. certainly, the treasury can't afford to let that go too long because everybody will be underwithheld. they'll get a big tax bill. there will be a riot among the people if that happens. what i'm watching is the treasury. if they get nervous enough, they'll ask them to change the tax tables. so far it looks like they smell a deal and haven't asked for it yet. you think we're going to get a deal? >> i think they may try to push it to the end. the other thing i'm watching for is the 17th when the president is due to take his family to hawaii. i don't think he wants to be in hawaii without a deal. something is going to come up. >> ron, what about you? >> i thought the resignation of senator jim demint, who was a staunch conservative, which was a surprise departure, tells me the republicans
CNBC
Dec 17, 2012 12:00pm EST
. it's a big day in america after a long and hungering wait. mcdonald's storied sandwich rejoins the menu today and just in time for christmas. the mcrib which isn't a rib at all packs a whopping 26 grams of fat, nearly 1,000 milligrams of sodium, and with its dlied release the restaurant chain is hoping the snack will beef up its fourth quarter numbers. >> it's not a rib, what is it? >> i don't even know what i'm saying. >> a fish? >> i don't -- >> i'm not going through mcdonald's and i still don't like the stock. i traded le- >> coming up on "halftime" from a wireless giant to a health care play we've got your top three trades. could a fiscal deal change the treasury trade with only 14 days left, making a pit stop to find out where yields are headed next. we'll be right back. look, if you have copd like me, you know it can be hard to breathe, and how that feels. copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatm
CNBC
Dec 14, 2012 9:00am EST
not an expensive stock. >> when we come back, bank of america shareholders have big reasons to smile. stock's been on a tear, of course. diane olick with an exclusive with brian moynihan after the break. and facebook, will it add to the social network's rally or put an end to it. stay with "squawk on the street." the opening bell is in 5 1/2 minutes. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'l
CNBC
Dec 7, 2012 2:00pm EST
, bank of america an regents financial. all had great weeks overall. the other big turnaround, computer hardware. not talking about apple. apple's had a lousy week. down 9%. but look. a simply disastrous month or two forle dell and hewlett-packard. all tornado around nurned aroun. apple today, sitting right near the lows for the week. lost about $50. we started around $585 for apple at the beginning of this week. >> down nearly 10% this week. a rare day when we see all the other techs higher and not apple. >>> before we dig in to jobs, let's talk deal or lack thereof. john boehner today saying there is no progress on the fiscal cliff and that is slamming cnbc's own deal-o-meter. we are in the red, folks. eamon javers, when boehner comes out and says it is not a fr progress report because we have no progress, that's not a good thing. >> no news is bad news in the case of washington. we're watching this fiscal cliff thing so carefully. let me play the sound bite so you can see the dour expression on speaker boehner's face as he talked to reporters early this afternoon. >> this i
CNBC
Dec 2, 2012 11:00pm EST
a building boom in the 1980s. las vegas became the fastest growing city in america until the recession hit it hard. now the population is in decline, and the gaming industry is in desperate shape, but the slowing economy didn't stop wynn from opening his most opulent casino-resort yet, the encore. charlie rose, who has known steve wynn both personally and professionally for about 15 years, was on hand during encore's opening night back in 2008. >> if all of our customers and friends are at the tables, gentlemen and ladies, place your bets. let the games begin. [cheers and applause] >> at 67, steve wynn is a legend in las vegas... >> if you're gonna start a gambling joint, start a gambling joint. >> the man with the midas touch who added glamour to the gambling industry. >> isn't this fun? >> it's perfect. >> even in this recession, thousands came to try their luck at his new casino. >> that's what i'm talking about! >> whoo! >> encore cost nearly $2.3 billion, a risky bet in a bad economy. why, in this economic environment, would you open a hotel? >> well, i'll tell you right
CNBC
Dec 31, 2012 4:00am EST
for long-term fiscal stability. number three, we have a long-term opportunity around energy. america can become an energy exporter. how do we do that in a way that deals with some of the environmental challenges that we have at the same time? that's going to be a third thing. but the most immediate thing i've got to do, starting on january 1st, if congress doesn't act before the end of the year is make sure that taxes are not going up on middle class families. because it is going to be very hard for the economy to sustain its growth trends if suddenly we have a huge fight taken out of the average american's paycheck. >> new gun regulations. mayor bloomberg of new york told me a couple weeks ago on this program that ought to be your number one agenda item. you know how hard this is. do you have the stomach for the political fight for new gun control laws? >> you know, david, i think anybody who was up in newtown who talked to the parents, who talked to the families, understands that something fundamental in america has to change. and all of us have to do some soul serving, including m
CNBC
Dec 5, 2012 12:00pm EST
bringing up bank of america, because the traders are excited about this break. from a technical standpoint, fundamentally moynihan has mentioned he's more than ready for the coming stress tests. we've seen it as a catalyst. would you want to be long bank of america headed into that, or you think this breakout is a bit premature and not ready for primetime injure yet? >> the name you want to own right here right now is citigroup versus bank of america. citigroup has a xharm and new ceo that's willing and able to take the tough actions for sustainable growth, i think, and he's had some positive indication of that today. i do think citigroup will finally be able to have a material dividend increase and you'll see that again by april. this is good news for citigroup. that's the name you want to own here. >> can you imagine you saying those words a few years ago? >> it's been a long time, but new ceo, new chairman, a new philosophy, i think, and we'll still be playing close attention. >> thanks so much for coming on. >> mike mayo, what do you do? >> i own citi, i disagree with both m
CNBC
Dec 11, 2012 6:00am EST
three biggest stockholders are selling 50 million shares. carlisle and bank of america, merrill lynch recently held a 38% stake in hertz. after the offerings, the funds will hold a roughly 26% interest in the rental business. after the sales, hertz will not receive anything from the proceeds of the sale. coming up, squawk on the farm. we're going to talk crops, crops, crops, tractors and other equipment. and what it all tells us about the global economy. stay tuned. >> announcer: team, "squawk box" exclusive coverage of the "new york times" deal book conference. investing, the economy and the looming fiscal cliff. jpmorgan chairman and ceo jamie dimon, carl likely group co-founder david rubenstein and a lot more. it all starts tomorrow at 6:00 a.m. eastern. hi, i'm phil mickelson. i've been fortunate to win on golf's biggest stages. but when joint pain and stiffness from psoriatic arthritis hit, even the smallest things became difficult. i finally understood what serious joint pain is like. i talked to my rheumatologist and he prescribed enbrel. enbrel can help relieve pain, stiffness
CNBC
Dec 3, 2012 4:00pm EST
bell" on cnbc. this is america. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day after day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] one pill each morning. 24 hours. zero heartburn. a passionate belief, and the foundation on which merrill lynch has been built. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a steadfast commitment to help you achieve your financial goals in life. that's the power of the right advisor. that's merrill lynch. >>> who doesn't want a special dividend? the hits keep coming. oracle announcing it will accelerate payments on three quarters worth of dividends for investors who hold the stock as of december 14th. now about 100 companies and can counting have announced more than $22.5 billion worth of special dividends in the fourth quarter. presumably to get ahead of higher dividend taxes if the fiscal cliff deal
CNBC
Dec 26, 2012 1:00pm EST
. when president obama arrives back in d.c., can he prevent america falling over the fiscal cliff? house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the loss of confidence in american governance and the american economy, but that's not necessarily going to be the case. we still have a few days left. a white house official told me that there have been no progress over the last couple of days, but an aide to senator harry reid told me there's still a 50/50 chance we get a mini deal that would put off the effects of the cliff at least temporarily and a 50/50 chance of that happening before january 1st. so even though there's a small number of days, sometimes the urgency of a deadline forces lawmakers to overcome differences they can't overcome otherwise. >> remind us, john, a mini deal is composed in the senate but still ha
CNBC
Dec 7, 2012 7:00pm EST
tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. . >>> tens of thousands of protesters are still surging around egypt's presidential palace. nbc reporter joins us now with the details. good evening, eamon. >> reporter: the media is reporting that the country's commission has ordered a vote scheduled to begin tomorrow in embassies around the world on the country's draft constitution to be postponed until wednesday. this is a significant development because for the past several days protesters have been demanding that president mohamed morsi rescind the decree that gave him absolute powers he issued a few weeks ago. more importantly they were demanding that he delay a nation-wide vote scheduled to take place on december 19th on this disputed draft constitution. the decision to postpone the vote is an indication that the president is perhaps considering delaying the vote. on saturday he is expected to meet
CNBC
Dec 21, 2012 1:00pm EST
one i own. >> western digital. >> bank of america. i like this name. meredith whitney talked about dividend potential for next year. i like it a lot. >> steven weiss? >> thank you. i like bank of america too for my friend pete here. but i will talk about aig. i think it'll be a great company again next year. put a dividend in there. buy it. >> which they want to do. >> they want to do. >> he's done a phenomenal job. like gm, everybody made money. >> is that too much time? >> way too much time. >> are you 50? >> no, not yet. >> that does it for us. don't forget to catch "money in motion" and options this evening. have a great evening. follow me on twitter. and power starts now. >>> and we welcome you to "power lunch." we have three major news conferences in washington, d.c. president obama will nominate senator john kerry to be his next secretary of state. harry reid will be on the senate floor and house minority leader nancy pelosi will discuss the cliff crisis. with plan b history, washington is scrambling to get a deal done. the markets however are decidedly worried. dow jones ha
CNBC
Dec 10, 2012 5:00pm EST
are one of the airs i'd see the most explosive upside. bank of america trades half times book. they are very leveraged. if they can get past a few more hurdles, and they can actually at some point implement a dividend yield, suddenly the stock gets a lot more attractive to just about everybody. warren buffett's in it, i'm in it. >> but is a dividend yield the only -- >> no. >> i see lending being okay, but the spreads aren't that great. do you want to lend for 30-year-olds on a mortgage. where is the growth going to come from? >> take a look at what their cash, right now, what their generation is, just unbelievable. these are money making machines right now. if the government gets out of their way and they can continue this and continue with the housing improvements that we're seeing, some of the refinancing. they were talking about how they want to adjust, make some of the deals a little easier for people to get through. i think for all those reasons, that's why i think this is an explosive jpmorgan, citi, i like that. >> let's talk about hewlett-packard. unconfirmed report that ca
CNBC
Dec 21, 2012 5:00pm EST
were down, bank of america down 2%. what do we see in terms of the future of these stocks going into the new year? >> that's a great point. especially names like bank of america, when it broke out at 10, and broke out again at 11 and so we saw people buying the stripes and slightly upside stripes. out until a few months out. you're seeing people monetizing, taking some profits. to me it was a beta chase to a lot of those names into the end of the year. it makes sense to come out of them, when you hold options. they're going to decay over the holidays. if you got that move and you think that there's some momentum you get out and take your win. >> one of the other things, we saw a lot of options activity in names unrelated to the fiscal cliff this week as well. which is something we haven't touched on. i think that we should probably mention that some of those other stocks like herbalife shouldn't get entirely ignored. one of the points i would make, the oil names, industrial names, volatilities are not that high. because in my correlations drop off a little bit, actually for those peo
CNBC
Dec 4, 2012 11:00pm EST
are we internationally? europe. what are some of the other key area, though? i think latin america, though. i think it's coming back. asia already turned. here's the new piece of data. i think europe could be stablized. ford is the one to watch. you get that thing at 11 or blow. i'm out blessing it. haven't done that in a while. in europe i'm thinking that i'm sanguine. excited about ford. we have ample evidence today that i'm right. affordability is skyrocketing. the rates remained too low. homes down sharply. and pricing is moving up in california, nevada, arizona all things we learned from the luxury home builder toll today. oh, that's fine. they leave out the most important fact that i hadn't heard from anybody, let alone toll brothers before. demographic play, how the company's chairman talked how demographics are going to take over. household formation is unnatural but because of the great recession. now at least it's picking up. there should are several new home buyers out there because of pent-up demand. well, from the delay of creation of new families, which is highly unus
CNBC
Dec 21, 2012 9:00am EST
see corporate america have fewer profits. look at oil. >> that's a good barometer. you know, we'll see signs that -- of -- but paychecks, right there, right in your falgs. the business formation is really cut back. because of this. who knows what tax season will be. >> who knows how things are going to be treated. look at the outflows that have happened over the past couple three weeks out of municipal bonds. we don't know, people don't know if there will be the tax exemption or their exemptions will be limited, so it will be a choice between mortgage deduction, or municipal bonds, and, you know, we're seeing the money come out. people are being cautious. i'm also hearing from hedge funds that people are selling their games. they're selling their games and reentering the new cost basis. people are uncertain and they're taking every precaution they can right now. >> like david said, there's also a -- >> you can make a case, things are feeling kind of good, we're not going down, we're actually going down, we're looking at the cliff, but it looks like they're going somewhere. and ever
CNBC
Dec 13, 2012 11:00pm EST
booyah for myself and my parents. i'm wondering how you think bank of america will do with the whole fiscal cliff situation? >> people tell me that the housing business is the one that will be hurt most by fiscal cliff, but bank of america is an inexpensive stock. not my favorite bank, but banks are trading together and bank of america will do well if we solve the fiscal cliff. that is the conclusion of the lightning round. >> the lightning round is sponsored by td ameritrade. >>> coming up, engine of growth? the power outages that followed superstorm sandy gave many homeowners a wakeup call. as the rebuild continues, could an investment in engine company briggs & stratton help plug you into a strong trend? cramer is speaking to the ceo to find out. >>> after a tough day like this she also likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. i
CNBC
Dec 3, 2012 5:00pm EST
year after year. we are still spending more than we take in year after year. is that really america getting serious about our fiscal mess? hardly. as the marriott ceo said both parties have to own the difficult job of telling the american people they are going to pay more and get less. that is the reality. we will find out if we have any real leaders. that will do it for us. have a great night. "fast money" begins right now. >>> three politicians bickering. >> it will not be an agreement without rates going up. >> we are nowhere. >> screaming. >> in 20 years they will not remember the nuances. >> once dancing carl. and five on "fast money." will the cliff kill christmas? we answer that tonight. >>> live from the nasdaq market site in new york city's times square i'm melissa lee. first taxes don't data. what about taxes. his take on the cliff hanger and why investors shouldn't worry about taxes. and dell trade or trap? goldman jumps on the band wagon. 2012 gold rush. why are americans stocking up on gold coins? is it another way to say diversify? we have to get straight to our top st
CNBC
Dec 18, 2012 5:00pm EST
opinions. a debate on bank of america. were you a buyer or seller today? >> technicals say you have to be a buyer. we talked ability 1425 being resistance on the way up. it was a few times and third time up went through it. now the market sets up to go anywhere between the highs we saw in 2000, 1550ish and the highest in 2009, 2007, excuse me when we publish up to 1550 as well. somewhere between 1500 and 1550, that's where we're headed. >> you need a horseshoe or hand grenade for that? >> you want me to narrow it down? 1505 to 1545 there, wise guy, trying to create the tension, i know, but that's where we're headed. >> where were you? >> up eight days in a row and euro yen at one year highs. people are putting risk. we haven't gone through this rotation on equities in debt. >> the thing i can't get my head around, when you take a look at sector, sequester sectors that would be hit hardest, they are pennies away at two week highs. take a look at financials, the military or financials, almost like the market doesnbelieves t will be a deal done or that it won't affect these sectors. >> yo
CNBC
Dec 4, 2012 2:00pm EST
from jane as well as, a big breakthrough in the strike that has shutdown america's busiest port, jane? >> we sure hope so m, mandy. mayor via rig goer via rig goes from a trade mission, both sides agreed to federaled me yation. the strike will continue in the eighth day the clerical workers, despite being offered a generous pay package and generous package say their johns are being outsourced. shipping industries which run the terminals say they don't want to be forced to fill the job with union workers if they don't need to 40% of all container cargo coming in and out of the u.s. comes through that port. it is now trickling in and out. again, it won't affect stock shelves before christmas, but what we are hearing now you are going to see it after christmas for those afterholiday sale if they don't resolve this shortly. back to you. >> thank you very much. appreciate the breaking news. >>> all right, on deck, you fill in the bank, pay back is a -- how much letters that was? white gop's plan could target the says that the didn't vote for their guy, we will explain. >> we certainly l an
CNBC
Dec 26, 2012 2:00pm EST
around america again. retail stocks melting down as the consumer finally caved in. a storm of another kind, the fiscal cliff, just days away but there's yet another threat out there which might even have a bigger impact on the economy. we'll tell you what it is. that story ahead. >>> plus, herbalife decides the best defense is a good offense and why amazon and netflix are suddenly feuding like the hatfields and mccoys. >> hello, everybody. on the fourth last trading day of this year, it is worth looking at the tally year-to-date. the dow has gained about 7%. the s & p is up about 13%. the best still could be to come as since 1928, the s & p averaged its greatest gains in the last few days of the month. of course we now have to deal with the fiscal cliff. also, the nasdaq is the percentage winner with a gain of 15% this year. which, by the way, is exactly the same as australia's asx. >> two minutes into the show, already an australia reference. shameless. >> shameless. >>> all right. could be a humbug christmas for retailers this year. the market today saying that things look a little
CNBC
Dec 14, 2012 1:00pm EST
, 17 days and counting until america goes off that fiscal cliff. a lot of frank talk certainly, but few signs of progress following president obama's meeting with house speaker boehner late yesterday at the white house. our chief political correspondent, john harwood is here with the very latest. it's the weekend. they're going home, john. >> they are going home. of course everyone's attention as you indicated at the top of the show on the terrible tragedy going on in connecticut. that dominated the early part of jay carney's briefing, the white house press secretary a few moments ago saying that the president was expressing enormous sympathy. we may hear from him later today. waiting to get further reports before commenting any further, but the fiscal cliff sort of took a back seat, at least for a while this afternoon. but we remain in this stalemate that we've been in for some time, sue. we talked with nick mulvaney earlier on cnbc. a republican member of congress from south carolina. it's not the case that they won't deal at all on taxes. president obama has to give us specifics
CNBC
Dec 3, 2012 6:00am EST
is big news. >>> playing politics with america's fiscal future. >> we're nowhere, period. we're nowhere. >> they would like to go beyond that or do it differently. >> but we're rising above it and putting your money first. guest host david walker of comeback america initiative and democratic strategist steve mcmahon both here to help us find solutions. >> then, what goldman's jim o'neill is so he seeing to help you prepare for your investments straight ahead. plus, adding opportunities door to door. >> have a good day. >> thank you. >>> domino's pizza ceo patrick doyle is here. the second hour of "squawk box" begins right now. >> good morning, everybody. welcome back to "squawk box" here on cnbc. i'm becky quick along with joe kernen. andrew is out this week. we've been watching futures this morning and they are indicated slightly higher. dow futures are up about 35 points above fair value, s&p futures and the fass dak futures are higher, as well. in your morning headlines today, the fiscal cliff dominating the sunday talk show circuit. treasury secretary tim geithner expressing
CNBC
Dec 12, 2012 4:00am EST
think we are seeing supplies go up. north america, united states, canada, mexico, they've seen significant growth in oil supplies. this year one of the few areas, next year, for a few years to come. is it something that it creates supplies to flood the world's market? no. it's going to create supplies that the world market needs. if you think about the low level of automotive transportation, penetration and emerging markets, again, this longer term story, you'll add more oil coming out of the u.s. you get more demand coming. we're going to need every barrel. >> reporter: where is the price going in 2013? >> i think we'll be higher for brent, quite a bit higher for wti. and that's because we're going to see the narrowing of that brent/wti spread as the seaway pipeline comes on line. and those barrels start flowing at a cushion to the gulf. >> reporter: one last question. the fiscal cliff, we talk about it, historical, dollar down, commodities up. i see less bang for the buck on commodities, the more q.e. into the system. i'm not sure it's working. >> i think if we get more q.e.,
CNBC
Dec 28, 2012 4:00am EST
, that we didn't have enough in asia and latin america, africa and the middle east and europe. some some of our clients have got 40%, 45%, 50% and they benefit as a result. the other part of it is i wish we had not just one-third of our operations in digital here on cnbc and that we had, let's say, 40%, 45% there, too. the pattern you'll see in 2013 is meets ya, application to our business and we specifically are going to get people to work more and more together in order to deliver more effective and efficient advertising and communications for our clients. >> if you have any regrets, share them with us here. >> never have regrets. >> learn from it. yeah. >> louisa will help you learn from it. e-mail your regrets into the show. we'll examine just where oil prices might be headed in 2013. >>> president obama calls congressional leaders to the white house today. >>> a lackluster trading week of the yurp, ewe european equity markets are scheduled to post double digit results for 2012. >> italy is expected to see solid demand when it sells up to 6 billion years of longer dated paper today.
CNBC
Dec 19, 2012 12:00pm EST
majority of gun owners in america are responsible. they buy their guns it legally, and they use them safely, whether for hunting or sport shooting, collection, or protection. but, you know what? i am also betting that the majority, the vast majority of responsible law-abiding gun owners would be some of the first to say that we should be able to keep an irresponsible, law breaking few from buying a weapon of war. i'm willing to bet they don't think that using a gun and using common sense are incompatible ideas. that an unbalanced man shouldn't be able to get his hands on a military-style assault rifle so easily. that in this age of technology, we should be able to check someone's criminal records before he or she can check out at a gun show. that if we work harder to keep guns out of the hands of dangerous people, there would be fewer atrocities like the one in newtown or any of the lesser known tragedies that visit small towns and big cities all across america every day. since friday morning a police officer was gunned down in memphis, leaving four children without their mother
CNBC
Dec 5, 2012 5:00pm EST
. >> politicians in gridlock. >> i have just started. that is a bad strategy for america. that's a bad strategy for your business. and it is not a game that i will play. >> apple shutting down. >> apple is falling and falling fast. now slipping back into bear market territory having its worst day in more than one year. >> will anything get moving before the end of the year? we find out right now. live from the nasdaq market site at new york city, time scare, it's melissa lee. geithner and the fiscal cliff. is he pushing us closer to or farther from the fiscal cliff. and doubling down on dividends. we've got an out of the box ets flight that can get you in on the pay day windfall that's taking shareholders by storm. plus, linked-in gets original. the executive editor will reveal why the company's move into original content could be a game changer. we'll get to those trades in a minute. let's get to the top story right away. apple misses the rally. the dow closed at a one month high but the trouble continues for apple posting its worst day in nearly four years. the stock falling back int
CNBC
Dec 19, 2012 4:00pm EST
smartest ways to get them made as quickly as pock. >> and i feel like america knows we need to make the changes. medicare has never been changed since it was first put into place. you know, what do you think it's going to take to actually get things done here? i -- does it surprise you that we don't have a deal yet at this time in the calendar? >> i don't know that it surprises me we don't have a deal yet because the unfortunate truth about washington negotiations is anything hard doesn't tend to happen until the very last moment, and let me be honest about that. that has real economic consequences and costs. it's already harm our economy that we're waiting so long, but what i really think we need to see, and you're right, voters outside of washington understand these issues, but we need real honest discussion with the people people where instead of both side pretending that you can get this without the tough choices and going back to the bases and saying there are things you don't like and instead of the conversation always being us and them, two sides fighting it out instead of the co
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